 "Stocks to buy: Angel One's Osho Krishnan suggests buying these two stocks")
Stocks to buy today, Jan 5:
NSE Scrip – RVNL
View — Bullish
Last Close — ₹365
Rail Vikas Nigam Limited share price has experienced a strong resurgence over the past weeks, followed by a breather that has retraced nearly 50 per cent of the rally. Technically, RVNL stock has witnessed multiple positive crossovers among the significant exponential moving averages (EMAs), and the sustainability above the 200 daily moving simple average (DSMA) after an elongated period of correction, represents a trend-reversal scenario from a short to medium term perspective. Additionally, the 14-day relative strength index (RSI) has shown a positive crossover and moving average convergence divergence (MACD), signaling a turnaround and adding to the bullish quotient.
Hence, we recommend to 'Buy' for RVNL around ₹360 | Stop Loss: ₹340 | Target Price:: ₹400-₹415
NSE Scrip – TORNTPOWER
View — Bullish
Last Close — ₹1,399
Torrent Power share price has shown significant buying pressure from the cluster of exponential moving averages (EMAs) around the ₹1,300 subzone and has surpassed the 200-day simple moving average (SMA), indicating the onset of a counter-trend. From a technical perspective, the moving average convergence divergence (MACD) histogram has demonstrated buying momentum, moving above the signal line and creating a positive crossover. Furthermore, the EMAs are approaching positive crossovers, suggesting that this upward momentum is likely to continue in the near future.
Hence, we recommend to 'Buy' Torrent Power around ₹1,380-₹1,370 | Stop Loss: ₹1,295 | Target Price: ₹1,530-₹1,550 ===============
Disclaimer: This article is by Osho Krishan, senior analyst-technical & derivatives, Angel One Ltd. Views expressed are his own.